MONTPELIER — The Federal Emergency Management Agency says federal and state officials hope to complete funding arrangements for the rebuilding of the Waterbury state office complex by the end of the month.

The two sides are working to determine how much FEMA will contribute to the cost of reconstructing the Waterbury campus, most of which was flooded and made unusable by Tropical Storm Irene in August 2011.

The state has designed a project that would demolish some of the existing structures in Waterbury, repair others and build new structures above the flood level.

The project is expected to cost $124.7 million. The state has been waiting to learn how much FEMA will pay. The state’s insurance company will also contribute.